Nigeria’s pension industry has continued its upward trajectory, with total pension fund assets reaching N24.10 trillion in May 2025.
Gatekeepers News reports that this represents a 1.91% month-on-month growth from N23.65 trillion in April, according to the National Pension Commission (PenCom).
The increase was driven by new Retirement Savings Account (RSA) registrations, robust investment income, and strategic reallocations across asset classes. Federal Government of Nigeria (FGN) Securities maintained their dominance, rising 2.04% to N14.95 trillion and accounting for 62.06% of total pension assets.
Investments in FGN Bonds (Held-to-Maturity) increased by 1.73% to N12.67 trillion, while Treasury Bills grew by 5.15% to N604.59 billion. Other notable investments include domestic equities, which advanced 6.78% to N2.75 trillion, and foreign equities, which rose 4.67% to N290 billion.
The total RSA registrations reached 10.76 million, with Fund II (the default fund for active contributors under 49 years) retaining its dominance with N10.04 trillion in assets. The pension industry’s growth reflects the increasing importance of retirement savings in Nigeria.
